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What is the best down payment assistance program in CA? I don't have any savings but want to buy.

by c.smith500 from Lake Forest, California. Mar 7th 2016 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Your local real estate agents or a local mortgage broker would be your best source, and they should be familiar with all the local grant programs.. So try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 7th 2016
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

Some counties offer down payment assistance programs, and there are other options as well. I recommend contacting a couple of realtors and see who they recommend as a great mortgage loan originator in your area.

Mar 7th 2016
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Erik Kinsley (erik@kinsleymortgage.com)
#1083 ranked lender in California - 3 contributions

One of the best programs in CA is the FHA Sapphire using the NHF Grant program. It allows for a No Down Payment out of pocket option. Call me for more details Erik Kinsley (951) 970-5034, or visit www.kinsleyteam.com

Mar 7th 2016
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 593 contributions

I'm a lender in the BayArea CA. Many cities and counties have different down payment assistance programs, a lot of them also have limited funds. You will need to speak to a local lender to see that is available.

Mar 8th 2016
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Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

There are certainly local programs in various parts of California. We usually take the simplest tact in our providing down payment assistance so we can fund it ourselves. In making offers on homes you want to assure the seller it will fund on time and we are one of the few lenders in California that can fund home loans with down payment assistance/closing cost assistance as fast as our standard home loans without assistance. Typically, you may not owe anything as in some grants ornot have to pay anything back until you have paid off the first mortgage, and even then there is a very low interest rate and very low monthly payment by that time.

Mar 9th 2016
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